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London Mutual Credit Union

Overview

Credit unions are not-for-profit, member-owned, financial co-operatives that exist for the benefit of a group of members who share a common bond, such as where they work or live.

Their mission is to provide members with access to reasonably priced financial services and encourage the development of good financial habits such as saving and responsible borrowing.

As a member of the credit union, you own part of the credit union through your shares. The members own, control, and administer the Society (the credit union). Because you are a member and partial owner, the credit union works for you.  Therefore, as a member of the credit union you will have access to ethical and affordable loans and more financial advice as to which loan product is best for you.

If you have savings with the credit union this means that not only do you have more control over your money, but also, as a shareholder, you will receive a dividend on your Membership Account whenever the credit union makes a surplus (a profit).

A current account is a bank account that allows you to access a range of banking services, such as receiving money (like your salary, pension or benefits payments), paying bills, and setting up direct debits and standing orders to make regular payments.  The credit union current account can be very useful for anyone looking for an easier, more affordable way to spend and access their funds. Opening a current account provides members with a MasterCard Debit card and allows access to their accounts from over 70,000 Link ATMs across the UK and our MasterCard is widely accepted throughout the world wherever you see the MasterCard sign.

London Mutual Credit Union was founded by employees of Southwark Council in 1982.

Contact Details

Phone:
Brixton 020 7787 0770

Email:

Website:
https://www.creditunion.co.uk

Address:
Brixton Branch: London Mutual Credit Union, 10 Acre Lane, Brixton, London SW2 5SG Peckham Branch (& Head Office): 4 Heaton Road, London SE15 3TH. Walworth Branch: 177 Walworth Road, London SE17 1RW.

Other Info

Opening times:
Mon - Fri 9.30am - 4.30pm.

Costs:

Disabled Access:

Directions:

Other information:
London Mutual Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Last updated:
11th September 2019